Depending on the size of the organization and the provisions of the Bylaws and the laws of the state of incorporation, the Board of Directors may choose to create a Finance Committee. The Fin
Every nonprofit corporation needs a board. To be able to enjoy the various benefits of a nonprofit status, state laws require articles of incorporation designating a board that stands for the organization. The board is the accountable body that:
When setting up your nonprofit organization, the two key steps you want to accomplish: select the best legal structure for the organization (a nonprofit corporation is the most commonly used) in your state of main activity and apply for its tax-exempt status with the IRS. In addition, you should investigate what other registration and licensing requirements apply to your organization in order to be compliant with federal, state, and local laws and to be able to reap the additional benefits your tax-exempt status provides.
Indemnification is the organization’s direct expression of willingness to protect its board members (and its senior staff) from the financial burdens of liability.
